South Carolina Blinks, Coinbase’s Staking Lawsuit Disappears 🎉

by

Oh, look! South Carolina has decided to drop the mic and back off from its lawsuit against Coinbase. Because, you know, maybe offering unregistered securities isn’t such a big deal after all? 😏

The Attorney General’s securities division and Coinbase did a little dance and came to a joint agreement. Another win for Coinbase, just like Vermont did the same earlier. Paul Grewal, the exchange’s chief legal officer, is probably popping champagne right now.

“The dominoes keep falling,” he says. A victory for us, for American consumers, and a big ol’ hint to the other states still playing hard to get with staking. 🕺

Remember when ten states, including South Carolina, decided to gang up on Coinbase last year? They were all like, “You can’t just go around offering staking rewards willy-nilly!”

They claimed Coinbase was selling unregistered securities, and everyone was all, “Cease and desist!” But guess what? The tables have turned. 🔄

And then, the SEC decided to join the party and file a complaint. But they dropped it in February 2025, because, well, maybe they had better things to do? 🤷‍♀️

Grewal says South Carolina residents lost $2 million in staking rewards. So, to the other states: maybe it’s time to reconsider? Just sayin’. 🤑

Oh, and by the way, staking is back on in South Carolina. You can now get your rewards through the Coinbase app and website. You’re welcome. 🎈

While we’re at it, Coinbase is on a roll. They’re eyeing a potential acquisition of crypto exchange Deribit and getting ready to charm India. Watch out, world! 🌍

Read More

2025-03-28 09:39